AIC 30 CERTIFICATION EXAM QUESTIONS AND ANSWERS (VERIFIED ANSWERS)
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Module
AIC 30
Institution
AIC 30
AIC 30 CERTIFICATION EXAM QUESTIONS AND ANSWERS (VERIFIED ANSWERS)
public adjusters - Answer-an outside organization or person hired by an insured to represent the insured in a claim in exchange for a fee
1. resisting; researching; negotiating and litigating inflated settlement demands
2. ...
AIC 30 CERTIFICATION EXAM
QUESTIONS AND ANSWERS (VERIFIED
ANSWERS)
public adjusters - Answer-an outside organization or person hired by an insured to
represent the insured in a claim in exchange for a fee
1. resisting; researching; negotiating and litigating inflated settlement demands
2. following claims procedures - Answer-measures that the claims department could
employ to reduce loss adjusting expenses long term?
offer insureds and claimants the settlement demanded rather than the settlement
deserved - Answer-measures that the claims department could employ to reduce loss
adjusting expenses short term?
satisfying contractual duties, maintaining insurers' credibility, and complying with legal
duty - Answer-how is good faith established
ethics - Answer-the study of what constitutes good and bad behavior dealing with moral
duty and obligation
conflicts of interest - Answer-a situation that occurs when a decision maker's personal
interests interfere to the extent that he or she makes decisions that adversely affect
customers or employers
ex parte - Answer-contacts in which only one party is heard
waiver - Answer-the intentional relinquishment of a known right
estoppel - Answer-principle that states that if party A intentionally or unintentionally
creates the impression that a certain fact exists, and party B acts on that impression,
party B cannot later assert that the fact does not exist
nonwaiver agreement - Answer-agreement indicating that during the course of the
investigation, neither the insurer nor the insured waives right under the policy
elements of negligence - Answer-duty owed, duty breached, proximate cause, damages
statutory law - Answer-formal laws enacted by federal ,state, or local legislative bodies
contributory negligence - Answer-prevents a person who has been harmed from
recovering damages if that person's own negligence contributed in any way to the harm
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